Probitas Partners
Probitas Partners
|
| Type |
Private Ownership |
| Industry |
Private Equity, Infrastructure, Real estate, Hedge funds |
| Founded |
2001 |
| Founder(s) |
Greg Hausler, Michael Hoffmann, Craig Marmer |
| Headquarters |
San Francisco, California, United States |
| Products |
Fund Raising, Portfolio Management, Secondary Advisory, Research |
| Website |
www.probitaspartners.com |
Probitas Partners is a global investment bank focused on raising capital as a placement agent for private equity fund sponsors as well as providing portfolio management and liquidity solutions, through the private equity secondary market, for investors in private equity. The firm operates through three primary businesses: fund placement, portfolio management and secondary advisory. The firm one of the most prominent independent placement agents in the US private equity industry.[1]
The firm was founded in 2001 by three former members of the Private Funds Group of Credit Suisse First Boston (formerly Donaldson, Lufkin & Jenrette): Greg Hausler, Michael Hoffmann, and Craig Marmer.[2] In 2002, the firm established a European placement business.[3] Probitas currently has approximately 50 employees.
Business Lines
Probitas operates through three lines of business:
- Probitas Portfolio Management provides management services to institutional investors for their alternative investment portfolios.
Probitas is also well-known for publishing surveys and white papers related to the private equity asset class and investors in private equity.[7][8][9]
Competitors
Within the private equity fundraising market, Probitas faces competition from large investment banks (most notably Credit Suisse and UBS as well as a range of boutique firms (e.g. Triago, Atlantic-Pacific Capital, Campbell Lutyens and Park Hill Group, an advisory business owned by The Blackstone Group).
Within the secondary advisory space, other advisors also include investments banks (Credit Suisse and UBS), and dedicated boutique firms (e.g. Cogent Partners), electronic exchanges (e.g. NYPPE), as well as other established fund placement agents (e.g. Triago and Campbell Lutyens).
References
- ^ Shutdown Of Merrill's Fund Placement Biz Resonates. Reuters Buyouts, July 6 , 2009
- ^ New firm focuses on private equity investments. San Francisco Business Times, September 21, 2001
- ^ Probitas to Step Up European Private Placement Business. Dow Jones Financial News, Feb 19, 2002
- ^ Only includes firms covered in Wikipedia. Source: Probitas Fund Closings and Events (Company website)
- ^ Boeing Auctioning Off Venture Holdings. Private Equity Insider, March 4, 2005
- ^ Scale Venture Partners closes $400M fund, BofA exits. San Francisco Business Times, March 7, 2007.
- ^ Shine Is Off Mega-Firms, LPs Say In Survey. Reuters Buyouts, March 17, 2008
- ^ LPs Doubtful About Buyouts, Survey Says, Reuters Buyouts, April 2, 2007
- ^ Lack of access to top funds is No. 1 LP concern, Reuters Venture Capital Journal, May 1, 2007
- Seconda anyone? Infrastructure Investor, May, 2009
- Probitas patents 'counterparty' liquidity product . Private Equity Online, March 16, 2009
- Probitas patents 'counterparty' liquidity product Private Equity Real Estate, March, 2009
- In A World Of Reduced Appetites, Distressed Debt and Secondary Funds Come To The Fore. PE Hub, January 20th, 2009
- The Private Equity Secondaries Market, A complete guide to its structure, operation and performance The Private Equity Secondaries Market] PEI Media, 2008
- Small portions, Forbes Magazine April 2008
- A Second(ary) Chance for Venture Capital. BusinessWeek.com, 2009
- DiNapoli’s Ban: A Placement Agent Responds. WSJ.com April 22, 2009
- For real this time – transactions in the real estate secondary market set to grow The Institutional Real Estate Letter, June 2008
- Former UBS Executive Joins Probitas Partners New York Times Deal Book, April 9, 2007
- Bank of America to list fund of funds on Euronext exchange May, 2007
- Will Placement Agents Push Themselves right Out of a Job?. Reuters Buyouts, December 12, 2005
External links
|
|
|
| Investment strategy |
|
|
|
| History |
|
|
| Investors |
|
|
|
Private equity firms · Venture capital firms · Portfolio companies
|
|